Citigroup Cuts Vertiv (NYSE:VRT) Price Target to $98.00

Vertiv (NYSE:VRT) had its target price lowered by Citigroup from $153.00 to $98.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also commented on the stock. Barclays dropped their price target on shares of Vertiv from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. reduced their price target on Vertiv from $132.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Melius Research reissued a “hold” rating and set a $125.00 price objective on shares of Vertiv in a report on Tuesday, January 28th. Evercore ISI reduced their target price on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Finally, Roth Capital raised shares of Vertiv to a “strong-buy” rating in a research report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.94.

Vertiv Stock Performance

VRT stock opened at $71.82 on Monday. The stock has a market cap of $27.35 billion, a P/E ratio of 56.11, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The firm has a 50 day simple moving average of $86.28 and a 200 day simple moving average of $108.86. Vertiv has a 52 week low of $53.60 and a 52 week high of $155.84.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the previous year, the business earned $0.56 earnings per share. Research analysts anticipate that Vertiv will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Tuesday, March 18th. Vertiv’s payout ratio is 11.72%.

Institutional Trading of Vertiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in shares of Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock worth $128,000 after buying an additional 84 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in Vertiv by 2.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock worth $420,000 after acquiring an additional 85 shares in the last quarter. Accurate Wealth Management LLC raised its stake in Vertiv by 4.1% during the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock worth $254,000 after acquiring an additional 87 shares in the last quarter. Horizon Investment Services LLC boosted its stake in shares of Vertiv by 4.1% in the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock valued at $274,000 after purchasing an additional 95 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in shares of Vertiv by 3.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock worth $367,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.